Russia boosts oil supply to China by 25% in 2023: Rosneft CEO

By Sibel Morrow

Russia’s oil exports to China increased by 25% to more than 75 million tons in 2023, according to the CEO of Russia’s oil giant, Rosneft, on Thursday.

Russia surpassed Saudi Arabia to become China's top oil supplier in the first eight months of this year, according to Igor Sechin on the sidelines of the Russian-Chinese energy business forum.

This year’s increase similarly follows the same pattern set in 2022, when Russian oil exports grew year over year by 28% to 89 million tons.

Sechin asserted that despite the escalating hostilities between Palestine and Israel in the Middle East, which are jeopardizing tanker transportation through the Strait of Hormuz or the Suez Canal, Russian supplies to China are being transmitted securely through the Eastern Siberia-Pacific Ocean pipeline.

"It is a much safer route compared to tanker transportation through the Strait of Hormuz or Suez Canal," he said.